U.S. economy may sputter for years - Los Angeles Times
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Every Economics 1 textbook introduces the economy with the same simple equation. It reads: consumption + investment + net exports + government spending = gross domestic product or output.
It's an equation that the new president and his top economic aides know well. With the first three elements negative or contracting quickly, the new administration sees few alternatives but to sharply expand the fourth factor -- government spending.
It's not a surefire solution. But the hope is that something eventually catches and the nation's economic engine begins turning over again on its own.
It's an equation that the new president and his top economic aides know well. With the first three elements negative or contracting quickly, the new administration sees few alternatives but to sharply expand the fourth factor -- government spending.
It's not a surefire solution. But the hope is that something eventually catches and the nation's economic engine begins turning over again on its own.
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